Open Lending Co. (NASDAQ:LPRO) Given Consensus Rating of “Hold” by Brokerages

Open Lending Co. (NASDAQ:LPRO) has been given an average rating of “Hold” by the nine analysts that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.56.

A number of equities research analysts recently commented on the company. Morgan Stanley lowered their price target on Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. JMP Securities lowered their target price on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. DA Davidson cut their price target on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd.

Open Lending Stock Up 2.0 %

Open Lending stock opened at $5.73 on Monday. Open Lending has a 1-year low of $4.57 and a 1-year high of $8.70. The firm has a market capitalization of $682.82 million, a price-to-earnings ratio of 52.09 and a beta of 1.12. The company has a current ratio of 13.32, a quick ratio of 13.32 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average price is $5.67 and its two-hundred day moving average price is $5.77.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Open Lending had a return on equity of 2.90% and a net margin of 6.25%. The company had revenue of $26.73 million for the quarter, compared to the consensus estimate of $31.03 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The business’s revenue for the quarter was down 29.9% on a year-over-year basis. On average, equities research analysts predict that Open Lending will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LPRO. Cubist Systematic Strategies LLC purchased a new stake in shares of Open Lending during the 2nd quarter worth approximately $33,000. SlateStone Wealth LLC purchased a new position in Open Lending in the second quarter valued at approximately $70,000. QRG Capital Management Inc. grew its holdings in Open Lending by 24.0% during the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock valued at $81,000 after purchasing an additional 2,824 shares during the period. Point72 Asset Management L.P. bought a new position in Open Lending during the second quarter valued at $110,000. Finally, SkyView Investment Advisors LLC increased its position in Open Lending by 100.0% in the second quarter. SkyView Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $112,000 after buying an additional 10,000 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Open Lending Company Profile

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers in the United States. The company offers Lenders Protection Program (LPP), which is a cloud-based automotive lending platform that provides loan analytics solutions and automated issuance of credit default insurance with third-party insurance providers.